Planning your employee experience has become all the more important during The Great Resignation. Your employee engagement and experience are the drivers of your business success as they directly impact your profitability, productivity, and retention.
The US Bureau of Labor Statistics recently reported that over 4.4 million workers left their jobs in April 2022; while another survey by Willis Towers Watson stated that 44% of the global workforce are looking for a job change this year. The best way to overcome the employee engagement challenges is to actively listen to and engage with your workforce.
According to a recent Gallup report, employees who have regular and open conversations with their managers about goals and successes are 2.8x more likely to be engaged. Investing your time and efforts in creating a psychologically safe employee communication channel can instill trust among your employees and encourage them to express their thoughts while boosting their creativity and fostering a healthy workplace culture.
Moreover, a study suggests that 45% of full-time workers prefer working in either hybrid or remote working models.HR leaders need to adopt these workplace changes and ensure that every employee, despite their work location, is informed about the company’s long-term goals and how this affects their career growth. Regular town-hall meetings with the leadership, one-on-one conversations between the employees and their managers, or conducting engagement surveys and sharing results with your workforce are ways you can conduct communication.
2.Growth and balance
The pandemic has made many of us redefine what success means, and it has greatly impacted how we value work-life balance. These findings are reflected in the AI@Work 2021 Global Study by Oracle, where 88% of respondents mentioned their definition of success has changed, with work-life balance, mental health, and flexibility becoming top priorities. The study also explores how the pandemic has affected people’s mental health, professional struggles, and dissatisfaction because they feel their company is not listening actively to them or supporting them enough.
Your workforce is expecting your support. If you act now, you have an opportunity to change and drive employee retention. For instance, your HR leaders can extend their support by creating flexible work arrangements, providing opportunities for professional development, and developing paths for upward mobility. Other programs of interest like mental health workshops can emphasize workplace wellbeing. Moreover, multiple studies have shown the workforce’s growing preference for speaking with an AI than their manager about their mental health, and technology is now available for such use cases.
3. Diversity and inclusion
A survey by Glassdoor shows that 76% of respondents consider a diverse workforce as an important factor while evaluating job offers. Furthermore, McKinsey mentions that Millennials and Gen-Z, in particular, are sensitive toward D&I (Diversity & Inclusion) initiatives and are vocal about their needs to be trusted, to have social cohesion, and to be recognized.
The future of work and employee turnover rate will be driven by the employees who feel connected to you, their colleagues, and the organization. Therefore, your HR leaders need to listen, engage and connect with your employees. Adopting employee experience platforms can help, whether it’s creating personalized channels or understanding your workforce’s preferences. Ultimately, your workforce will drive and design unique experiences.
Creating employee experience with Oracle ME (my experience)
Employee experience has become a necessity while creating people strategies for retaining your talent and should not be taken lightly. With more organizations looking to tailor authentic and positive experiences for their employees, it is important to ensure you are taking steps to start your employee experience and engagement journeys.
Oracle ME, part of Oracle Fusion Cloud HCM, is designed to provide you with step-by-step guidance for professional and personal activities for creating a personalized employee experience workflow. It delivers an in-the-moment engagement and action channel between employees and managers, making it easier to foster continuous and open interactions.
Get in touch with Evosys, a trusted Oracle Partner, to begin your new age experience allowing your workforce to be at their best throughout their talent journey.